- Feb 10, 2003
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I think he's means in NYC income tax. If dude makes 125-150K a year its plausible for him to pay that in just city tax if he went exempt or owns a business.
Home Buying & Real Estate Thread
- Thread in 'General' Thread starter Started by TYE_The Time Traveler,
- Start date
I think he's means in NYC income tax. If dude makes 125-150K a year its plausible for him to pay that in just city tax if he went exempt or owns a business.
- Apr 12, 2011
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- Nov 5, 2015
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Damn 5k? Sheesh I just found out yesterday I have to pay 840 in tax, and I was crying. I would be heated over 5k.
- Apr 12, 2011
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One of my coworkers moved here from NC after college and the HR department didn't alert her that she needs to have city tax taken out (company is based out of Cali). Not sure if that's her responsibility or theirs TBH.
She was in HR block literally crying to the guy to help her but there was nothing he could do. I never even heard of city tax before that because i was too young to work when I still lived in the city.
She was in HR block literally crying to the guy to help her but there was nothing he could do. I never even heard of city tax before that because i was too young to work when I still lived in the city.
- Mar 31, 2006
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Right.
This
Another reason I refuse to live in the city.
15 min away and no city tax
I dislike you.
When it comes to the IRS...
- Apr 12, 2011
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Since you are looking i would suggest taking the time to watch this.
I only got about 30 min in and so far and the break downs on the neighborhoods pricing and trends is at least worth the time spent.
I only got about 30 min in and so far and the break downs on the neighborhoods pricing and trends is at least worth the time spent.
- Nov 16, 2001
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If you're confused about what your situation would be somewhere else, hop on Turbotax and plug in your numbers for the situation you want in the current tax year. That should help give you a good idea what would happen in hypothetical situations.
- Dec 28, 2004
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Some of yall may recall i was asking about BPOs vs Appraisal...
well had the BPO lady come in today. All she did was take like 12 photos and talk about where the real estate market was going. (she assured me i was doing this at the right time and the value of my place has risen and should knock the PMI off)
anyway, she was adamant that the market was about to crash again based off how much work she is currently doing. She said she expects it in the 1st quarter...pretty sure we in the 1st q all ready, but she was like its coming, and as long as you (me) didnt over buy, we should be good.
anyone have thoughts on this?
well had the BPO lady come in today. All she did was take like 12 photos and talk about where the real estate market was going. (she assured me i was doing this at the right time and the value of my place has risen and should knock the PMI off)
anyway, she was adamant that the market was about to crash again based off how much work she is currently doing. She said she expects it in the 1st quarter...pretty sure we in the 1st q all ready, but she was like its coming, and as long as you (me) didnt over buy, we should be good.
anyone have thoughts on this?
- Dec 2, 2009
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Pay for the appraisal. My house was not comparable to the subjects properties in my area and my value came in much higher. Most banks reimburse you for the appraisal cost anyway
- May 24, 2008
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I'm in the process of putting an offer for this townhouse in Orange County, CA. My agent is asking me to provide them with a copy of check with 10% DP on it. Is this normal?
Thanks
Thanks
- Nov 16, 2001
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Did they say why? It's completely normal to ask prove where funds originated from so that's not out of the question. Not quite sure why the agent would need it though unless there's something I'm unaware of. I do know that there are certain areas where money laundering is an issue where agents must also verify, but I wasn't aware that Orange County was one of them.
Who's your agent BTW?
- Jul 29, 2012
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Went through the home buying process this last year, they didn't ask me for any DP checks until I was near closing
- Mar 27, 2005
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DP meaning deposit? If so, it's pretty normal. Seller wants to be sure you're a serious buyer. What better way to show you're serious than putting a deposit.
I purchased my home in 2011 and it was a new construction. After negotiations with the builder, they required $10,000 deposit which is credited towards closing costs. In the event I couldn't get financing, I'd get the deposit back. If I backed out, I lose the deposit.
Same with the commercial property I purchased last year. Seller required $75,000 deposit (10% of purchase price).
It's pretty normal.
- Feb 23, 2006
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I think he meant DP as in down payment. Would that make sense to have a 10k deposit in addition to a down payment? I don't see how that works where you won't receive it back if you choose to not purchase the home.
- Mar 27, 2005
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Ok I got it. I don't see a reason why they would need down payment up front.
In my case, the builder was eager to withdraw from the community and wanted serious buyers. I saw the model home of the house I purchased and agreed to their terms of losing deposit if I back out.
- Dec 28, 2004
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is that money that is called the "faith" something?
Basically, you put in an offer, but to showcase youre not wasting anyone's time, you put in (in my case) $2000, and if your offer is accepted, that money is a part of your down payment.
If things don't go through, your get your money back.
I know I had to write a $2000 check, and when it came closing time, you brought another check equaling out the full downpayment, closing costs and all that.
Basically, you put in an offer, but to showcase youre not wasting anyone's time, you put in (in my case) $2000, and if your offer is accepted, that money is a part of your down payment.
If things don't go through, your get your money back.
I know I had to write a $2000 check, and when it came closing time, you brought another check equaling out the full downpayment, closing costs and all that.
- Feb 10, 2003
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Good faith money
- Feb 23, 2006
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Okay that make. I was confused about how they would want a deposit and the DP. 10k at that. I'd rather that go to my DP lol.
- Mar 27, 2005
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Exactly! Good faith money or earnest money deposit.
- Mar 2, 2013
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MAN, the Vegas housing market is buns. Anything decent is swooped up on day one. Almost nil supply wise.. a bunch of new homes being built at way higher price points... and a big percent of folks in foreclosure or underwater, meaning they either aren't selling or you gotta get the house from the scummy *** bank that finally got it back and wants to make up for lost money.
- May 24, 2008
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My agent is really pushing it hard..like trying to hurry us up to buy the house...almost to the point I feel really uncomfortable. He's saying we can probaly discount between $10k ~ 20k. but now hes saying theres an offer on the table so hes saying just to go with the asking price.
Should i back out?
- Nov 16, 2001
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What city are you looking in? The market is all over the map in OC. If you're in a hotter area, asking price might not even win you the home. In other areas, you might be able to get below asking.
Inventory is still pretty tight. Prices have stabilized and inventory is taking 50 days to turnover.
- May 24, 2008
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I just dont like how my realtor is rushing me with all these documents, offers, etc..
Im looking at La Mirada/Buena Park area... This will be my first time buying a house so i dont know the traits of a good realtor... going blind here
- Mar 2, 2013
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You need to do your on research..
I am fortunate enough to have an extended family member with lots of time as my realtor
but i still do my own looking
things you should could consider
are there lots of homes to choose from in your desired price range and location
how long have the homes you like been sitting on the market
how much is the home expected to appreciate?
is it overpriced for what you get out of square feet, features, and neighborhood schools and ammenities
did other homes sell for less recently
if your realtor is full time then she probably is trying to get you the house you want but knows that in a hot market you gotta move before the next man
I've already been beat out on 5 homes i wanted to buy because they went into contract when i found them
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- Jun 1, 2011
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Should be interesting towards the end of this year for real estate. The economy as a whole is either as bad as 08 if not worse. The cold part is that's it's not being as played up as it was back then which makes it more lethal. Hope folks have stable employ man because it's about to get even uglier...
